Payout & Refund FAQs
1. Is there an API to list a bank account for the end user?
Yes, you can add a bank account for the end user at any time using the Create a customer profile bank account API.
2. Can I schedule payouts in advance?
Currently, our API does not support scheduled payouts, but you can set up a recurring job in your backend to automate payout requests.
3. Are payouts processed instantly?
Yes, all payouts are processed instantly through the StraitsX API. However, the actual time it takes for the recipient to receive the funds depends on the currency, transaction size and banking network. Additionally, some payouts may be held or blocked due to internal fraud prevention and compliance reviews.
4. Can I recall or cancel a payout after it has been initiated?
No, once a payout request is processed, it cannot be recalled through the system. Please double-check payout details before execution.
5. What are the required fields for adding a payout recipient?
The required fields for adding a payout recipient depend on the integration model you have adopted and the disbursement method.
- 1st Party Integration Model - Payout can only happen to the same bank account that did the payment transaction.
- 3rd Party Integration Model - refer to https://docs.straitsx.com/reference/create-a-customer-profile-payout-recipient.
- Regular Transfer Model - refer to https://docs.straitsx.com/reference/create-a-payout-recipient.
6. Do you offer APIs for refunds and cancellations?
Right now, we do not offer APIs for refunds and cancellations. Alternatively, you may use our incoming fund bank account information and use Payout API for refund.
7. If the recipient's bank rejects the money, what will the withdrawal order status be?
If the withdrawal was already successfully disbursed (status: completed) but the beneficiary bank later rejects and returns the funds, the original withdrawal status will remain as completed. The returned funds will be treated as a separate incoming deposit transaction.
Note:
If the disbursement fails during processing (before funds leave our system), the withdrawal status will be
failed.
8. If the user makes a successful deposit but initiates a charge back, will you refund the money to the user and notify us?
The sender has the option to request for a SWIFT reversal with the sending bank, after which the sending bank will then forward this request to the receiving bank and the bank will subsequently reach out to the sender(StraitsX) for approval.
Approval is subjected to location and sufficiency of the originating amount. If deposit is already credited to you, StraitsX will reject the request and sender will be advised to reach out to you for resolution.
9. What are the different API transaction types?
| Transaction Type | Description |
|---|---|
| Withdrawal on behalf | For first party payouts (SGD use case) |
| bankTransferTransaction | For third party and regular payouts (SGD use case) |
| paynowTransaction | For PayNow transactions (SGD use case) |
| swiftTransaction | For USD use cases |
10. Are there additional fees for SWIFT payouts?
Yes. Intermediary and beneficiary banks may apply fees for SWIFT transfers. You can control who bears these fees using the charge_option parameter in your payout request:
| Charge Option | Fee Responsibility | Recipient Receives |
|---|---|---|
| SHA (Shared) | Sender pays sending bank fees. Recipient pays intermediary & receiving bank fees. | Less than sent amount (fees deducted en route) |
| OUR | Sender pays all transaction fees | Full sent amount |
Recommendation: Use OUR to ensure the recipient receives the full payout amount.
11. What is the callback event for payout status updates?
The webhook event for payout status updates is payoutStatusUpdated. The callback payload includes a status attribute indicating the current payout state (e.g., pending, completed, failed).
You can set up your callback URL via the Update Webhooks API or in the StraitsX Dashboard.
12. Can I create a payout recipient for GrabPay bank account numbers?
No. Incoming PayNow payments from GrabPay may include sender bank account numbers with special characters (e.g., 12345678901234_1234567890123_R). These accounts are valid for receiving payments, but cannot be used directly as payout recipients due to format restrictions.
Workaround for refunds: If you need to refund a GrabPay sender, please contact StraitsX support to request a manual refund.
Updated 7 days ago